Thailand raises 2018 GDP growth outlook to 4.2 percent

Bangkok (VNA)
– Thailand’s finance ministry has raised its GDP growth forecast to 4.2 percent
from 3.8 percent, and also increased its estimate for exports.

Export, a key driver of Thai growth, will increase
6.6 percent this year compared with the 5.7 percent predicted in October last
year, ministry spokeswoman Kulaya Tantitemit said at a press conference in
Bangkok on January 29.

Southeast Asia's second-largest economy will mainly be driven by government
spending and large public infrastructure projects this year, she said.

Thailand’s economic growth in 2017 was estimated at 4 percent - the fastest
pace since 2012 - and higher than the 3.8 percent the ministry projected three
months ago, thanks to stronger exports and tourism, Kulaya said.

Recently, the Thailand Board of Investment (BOI) announced the investment
target of 720 billion THB (22.5 billion USD) for 2018 after closing the year of
2017 with an investment growth of 22 percent from 2016.